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- Telecom Stocks Fall as SpaceX Eyes 80,000 Cell Sites: T-Mobile Sinks 5%, AT&T Drops 4%, Verizon Slides 3%
T-Mobile fell 5% to $150.74, AT&T dropped 4% to $21.79 and Verizon slid 3% to $43.70 in morning trading after Bloomberg reported, citing people familiar with the matter, that SpaceX is in talks with at least one major cell tower owner for access to a large network of U.S. cell sites. The report follows SpaceX's agreement earlier this month to acquire nationwide 800 MHz spectrum licenses, and tower access would move it closer to becoming a fourth national wireless carrier. The bear case centers on pricing and churn pressure from a new rival, while AT&T's indoor low-band reach is cited as a scale advantage a newcomer would take years to duplicate. AT&T CEO John Stankey downplayed the spectrum threat, and Verizon CEO Dan Schulman argued that satellites cannot effectively compete with terrestrial networks in urban and suburban areas. The Communication Services Select Sector SPDR ETF fell 1% to $105.94, and the next test is whether the talks become signed tower leases.
- The mobile ambitions of SpaceX see telecom stocks get hit again. What the latest developments mean.
- SpaceX in Talks to Access 80,000 Cell Sites for Wireless Network
SpaceX aims to secure at least 80,000 cell sites across the US and is in talks with at least one major cellular infrastructure company, according to people familiar with the matter. The agreements would help it build a fourth nationwide wireless carrier, with deal values that could reach into the billions. One potential partner is Crown Castle, whose CEO said the company is talking to all parties, including satellite-based telecom providers, but declined to name customers. SpaceX recently acquired low-band spectrum and won FCC approval to launch 15,000 satellites for direct-to-phone service. Tower sites are a key piece it must assemble to reliably connect with users on the ground.
- AST SpaceMobile Hit a 52-Week Low Days After SpaceX Spent $8 Billion on Spectrum. That's Not a Coincidence.
AST SpaceMobile hit a 52-week low of $39.02 on Oct. 20, 12 days after SpaceX agreed to buy Grain Management's nationwide 800 MHz low-band spectrum for $8 billion. The article says the deal could let Starlink, combined with over 10,000 active satellites, become a standalone wireless carrier, threatening AT&T and Verizon's plans with AST. However, the author argues the sell-off is an overreaction, since carriers may need to invest more in AST's satellites to compete, and SpaceX's move may push more carriers toward AST. AST has launched 13 BlueBird satellites and needs at least 45 for stable service, and the decline is attributed mainly to a valuation of 74 times this year's sales. Analysts expect revenue to rise from $168 million in 2026 to $1.73 billion in 2028.
- AST SpaceMobile Rises 4% as Europe’s Largest Carriers Explore Joint Satellite Spectrum Bid; SpaceX and Rocket Lab Edge Higher
AST SpaceMobile rose 4% to $42.24 in early trading after its carrier partners, described as Europe's four largest, signed a letter of intent to explore a potential joint bid for mobile satellite services spectrum. The letter names no financial terms and adds no signed revenue yet, while SpaceX and Rocket Lab rose more modestly. The company has 13 BlueBird satellites in orbit, targets about 45 by early 2027, and says its carrier partners cover more than 3 billion subscribers. Its Q2 2026 revenue of $31.52 million missed expectations, and the loss of $0.77 per share also fell short, though management reaffirmed revenue guidance of $150 million to $200 million for the year. Pro forma liquidity tops $3.7 billion and the signed backlog is roughly $1.3 billion.
- AST SpaceMobile Is the New Battleground Stock
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Comfort Systems (FIX) fell as much as 13.2% on Friday before trimming its decline to 8.9% by 3:10 p.m. EDT, despite beating revenue and earnings estimates for the quarter. Revenue rose 53.7% and EPS grew 68.6% to $13.91, while backlog climbed to $17.8 billion from $14.1 billion three months earlier. The article attributes the sell-off mainly to the announced year-end retirement of Bill George, a founder and longtime CFO, along with a "sell the news" reaction seen across AI-linked stocks this earnings season. Shares are about 38% below their June all-time high and trade at 19.4 times average 2027 analyst earnings estimates.
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- SpaceX Filing Gives Elon Musk the Final Word on Tesla Merger He Says He’s Staying Out Of
SpaceX stated in an SEC filing that any merger with Tesla must be approved by its controlling shareholder, Elon Musk, who holds roughly 85% of voting power. Musk recused himself from both special committees but publicly endorsed the deal, which Reuters reported created a "mess" for the independent process. Both companies formed special committees on October 20 to evaluate a proposed deal that analysts estimate could create a combined entity worth around $3.5 trillion. REX Financial estimates Musk would hold roughly 57% of combined voting power. Tesla shareholders must clear a 50%-of-all-outstanding-shares threshold, with a vote expected at or near the December 3 annual meeting.
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- Robinhood Is Quietly Building 13 Businesses at Once. Here's Why It Matters.
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